Lpath Inc stock upgraded to Buy Candidate.
(Updated on Dec 02, 2022)
The Lpath Inc stock price fell by -0.99% on the last day (Friday, 2nd Dec 2022) from $10.13 to $10.03. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 1.60% from a day low at $9.99 to a day high of $10.15. The price has fallen in 7 of the last 10 days but is still up by 65.79% over the past 2 weeks. Volume has increased on the last day by 1 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately $22.64 million.
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The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $10.36 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 29.6% during the next 3 months and, with a 90% probability hold a price between $7.96 and $13.43 at the end of this 3-month period.
APEN Signals & Forecast
The Lpath Inc stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $8.36 and $6.65. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, November 29, 2022, and so far it has fallen -2.10%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Lpath Inc stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.160 between high and low, or 1.60%. For the last week, the stock has had daily average volatility of 3.13%.
The Lpath Inc stock is overbought on RSI14 and the RSI has been falling for the last couple of days. This together with the fact that the stock is in the upper part of the trend poses a possible good selling opportunity for the short-term trader. However, one should note that some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $9.72 (-3.05%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 83 and this increases the risk substantially. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (APEN) For The Upcoming Trading Day Of Monday 5th
For the upcoming trading day on Monday, 5th we expect Lpath Inc to open at $10.06, and during the day (based on 14 day Average True Range), to move between $9.46 and $10.60, which gives a possible trading interval of +/-$0.570 (+/-5.68%) up or down from last closing price. If Lpath Inc takes out the full calculated possible swing range there will be an estimated 11.36% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.100 (1.00%) our system find the risk reward not very attractive.
Is Lpath Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Lpath Inc stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.523 Open Broker AccountBuy Candidate Upgraded
Predicted Opening Price for Lpath Inc of Monday, December 5, 2022
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price December 5, 2022||Current price|
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About Lpath Inc
Apollo Endosurgery, Inc., a medical technology company, focuses on the design, development, and commercialization of medical devices. The company offers OverStitch and OverStitch Sx Endoscopic Suturing Systems that enable advanced endoscopic procedures by allowing physicians to sutures and secure the approximation of tissue through a flexible endoscope. It also provides Orbera, an intragastric balloon system that reduces stomach capacity causing ... APEN Profile
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